FCA fines Commerzbank London £37,805,400 over anti-money laundering failures Press Releases Published: 17/06/2020 Last updated: 17/06/2020 The FCA has today fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017. Commerzbank London was aware of these weaknesses and failed […]
Enforcement Actions Published Date: 19 March 2020 MAS Imposes Composition Penalty of $400,000 on TMF Trustees Singapore Limited for AML/CFT Failures Singapore, 16 March 2020 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $400,000 on TMF Trustees Singapore Limited (TTSL) for failure to comply with […]
SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements 18 May 2020 The Securities and Futures Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage Limited (SSBL) $5 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) […]
Swedbank fined for serious deficiencies in its measures to combat money laundering 2020-03-19 | PRESS RELEASES MONEY LAUNDERING BANK Swedbank AB has had serious deficiencies in its management of the risk of money laundering in its Baltic operations. This is the conclusion of parallel investigations into parent company Swedbank AB and its subsidiary […]
So, BIOMIN America and its foreign subsidiaries made 30 sales of non-U.S. agricultural commodities to a company in Cuba without getting a license for it. Interestingly enough, those 30 sales resulted in 44 violations of the Cuban Assets Control Regulations (CACR) – my guess is that some of these were […]
Press Release April 20, 2020 DFS SUPERINTENDENT LINDA A. LACEWELL ANNOUNCES INDUSTRIAL BANK OF KOREA TO PAY $35 MILLION TO NEW YORK STATE FOR VIOLATIONS OF NEW YORK ANTI-MONEY LAUNDERING AND RECORDKEEPING LAWS DFS Investigation Finds IBK and its New York Branch Failed to Implement and Maintain Adequate Bank […]
DFSA Fines La Tresorerie for Serious Failings 23 Apr 2020 Serious and deliberate wrongdoing breached the prohibition against providing money services in or from the DIFC Firm’s activities increased risks of money laundering and endangered client money protections Following a lengthy investigation process, which commenced in 2017, the Dubai Financial […]
Sub.: Summary of Order-in-Original No. III/DIR/FIU-IND/2020 in the matter of Shri Vinayak Sahakari Bank Ltd. reg. In order to assess the compliance of Shri Vinayak Sahakari Bank Ltd. (the Bank) with regard to its obligations under the Prevention of Money Laundering Act, 2002 (the Act) and the Prevention of Money […]
Yesterday, UK regulators announced the imposition of 2 monetary penalties against Standard Chartered Bank for Violations of EU Council Regulation 833/2014 (that’s the Ukraine/Russia sectoral sanctions one), and Regulation 38 of the Ukraine (European Union Financial Sanctions) (No.3) Regulations 2014. The total penalty amounts to 20,471,809.83 GBP. The notice notes […]
Sub.: Summary of Order-in-Original No. 1/DIR/FIU-IND/2020 in the matter of Tumkur Grain Merchants’ Co-operative Bank Ltd. reg. In order to assess the compliance of Tumkur Grain Merchants’ Co-operative Bank Ltd. (the Bank) with regard to its obligations under the Prevention of Money Laundering Act, 2002 (the Act) and the Prevention […]
